Citigroup merged its CEO and chair roles, naming Jane Fraser as board chair effective October 22, 2025.

Citigroup has named CEO Jane Fraser as chair of its board, merging the top leadership roles effective October 22, 2025, aligning with other major U.S. banks. Fraser, who has led the bank since 2021, will receive a $25 million equity award vesting over five years. The move follows her execution of a strategic overhaul, including divestitures of international consumer operations and leadership hires. John Dugan, who served as chair since 2019, will remain on the board as lead independent director. The bank cited Fraser’s performance and long-term vision as key to its progress.